Himayathnagar Branch
Shop No.4, Vasavi’s Shreemukh, Adj to Minerva coffee shop, Himayath Nagar,
Hyderabad-500029, Ph.040-23421299/23421119.
E-mail:[email protected]
To: Borrower/Guarantor/Mortgagor/Co-Obligant
1.Mr Mr.Nagelly S/o N Narasimha Goud
Mahender Goud Hno. 4-420/A, Plot No. 13, Anjanadri Nagar Extension, Phase-II,Street No.5,
Dammaiguda Municipality, Nagaram Village, Keesara Mandal, Medchal Malkajgiri
Dist.Telangana- 500083 Cell no-6309028448
2.Smt Smt. Nagelly W/o Nagelly Mahender Goud
Sudha Hno. 4-420/A, Plot No. 13, Anjanadri Nagar Extension, Phase-II,Street No.5,
Dammaiguda Municipality, Nagaram Village, Keesara Mandal, Medchal Malkajgiri
Dist. Telangana- 500083
Dear Sir/Madam,
Sub: Notice of 30 days for sale of immovable secured assets under Rule 8 of the Security Interest (Enforcement)
Rules, 2002.
Union Bank of India, Himayath Nagar Branch, the secured creditor, caused a demand notice dated 02-06-2023 under
Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act
2002, calling upon you to pay the dues within the time stipulated therein. Since you failed to comply with the said
notice within the period stipulated, the Authorised Officer has taken possession of the immovable secured assets under
Section 13(4) of the Act read with Rule 8 of Security Interest (Enforcement) Rules, 2002. Possession notice dated 08-
08-2023 issued by the Authorised Officer, as per Appendix IV to the Security Interest (Enforcement)) Rules, 2002
was delivered to you and the same was also affixed to the properties mortgaged with the Secured Creditor, apart from
publication of the same in newspapers. Please note that as per the said demand notice you were informed about your
right to redeem the property within the time available under Section 13(8) of Securitization and Reconstruction of
Financial Assets and Enforcement of Security Interest Act, 2002.
2. As you have failed to clear the dues of the secured creditor, the immovable secured assets that have been taken
possession of by the Authorised Officer, will be sold by holding public E-auction on 16-11-2023, 12:00 PM to 05:00
PM by inviting Bids from the public through online mode on www.mstcecommerce.com.
3. You are also requested to ensure participation by parties interested in buying the immovable secured assets in the
sale as proposed above.
4. A copy of the terms of sale is enclosed for your reference. Please note that the Auction will be conducted through
E-Auction mode on the date and time mentioned in the enclosed terms of sale.
Yours faithfully
Place :Himayath Nagar
Date: 07.10.2023 AUTHORISED OFFICER
FOR UNION BANK OF INDIA
Encl: Terms of sale
TERMS AND CONDITIONS OF SALE OF IMMOVABLE SECURED ASSETS:
1. Name and address of the Borrower, Co- 1.Mr.Nagelly Mahender Goud S/o N Narasimha Goud
Applicant and Guarantor Hno. 4-420/A, Plot No. 13, Anjanadri Nagar Extension, Phase-
II,Street No.5, Dammaiguda Municipality, Nagaram Village,
Keesara Mandal, Medchal Malkajgiri Dist.
Telangana- 500083
Cell no-6309028448.
2.Smt. Nagelly Sudha W/o Nagelly Mahender Goud
Hno. 4-420/A, Plot No. 13, Anjanadri Nagar Extension, Phase-
II,Street No.5, Dammaiguda Municipality, Nagaram Village,
Keesara Mandal, Medchal Malkajgiri Dist.
Telangana- 500083
2. Name and address of the Secured Creditor : Union Bank of India,
Himayathnagar Branch
Shop No.4, Vasavi’s Shreemukh, Adj to Minerva coffee shop,
Himayath Nagar,
Hyderabad-500029, Ph.040-23421299/23421119.
E-mail:
[email protected]3.Property Description:
All that Residential house on Plot No.13, admeasuring 150.0 Sq.yards or 125.4 Sq.Meters,with a built-up area of
1200.0 Sft.,R.C.C.,in Ground Floor, In survey Nos.505,506,518,520,521,522&523, situated at “Anjanadri Nagar
Extension” Phase-II,Dammaiguda H/o Nagaram Village, Gramapanchayat Dammaiguda, Keesara Manadal,
Medchal-Malkajgiri district., and bounded as follows:
North:by Plot No.12,
South:by Neighbour’s Land
East: by Plot no.4,
West:by 25’ Wide road
4.Encumbrances known to the Secured Creditor : NIL
5. Last date for submission of EMD On or before the commencement of e-Auction
6. Date & Time of auction Date: 16-11-2023
Time: 12:00 PM to 05:00 PM (with 10 min unlimited auto
extensions)
E-auctionwebsite-www.mstcecommerce.com
Increment Value: Rs 56,000/-
7.The secured debt for the recovery of which Rs.35,81,590.27(Rupees Thirty Five Lacs Eighty One thousand
the immovable secured asset is to be sold: Five hundred Ninety and Paise Twenty seven Only) as on
30.09.2023 with further interest plus other expenses.
8.1Reserve price for the properties below which RS.55,50,000.00(Rupees Fifty Five Lacs Fifty Thousand Only)
the immovable property may not be sold:
8.2 EMD Payable RS.5,50,00.00(Rupees Five Lacs Fifty Thousand Only)
9. 1. Registration
The Online E-Auction will be held through web portal/website www.mstcecommerce.comon the date and time
mentioned abovewith unlimited extension of 10 minutes.
The intending bidders / purchasers required to register through
https://www.mstcecommerce.com/auctionhome/ibapi/index.jspby using their mobile number and valid email-id.
They are further required to upload KYC documents and Bank Details.
9. 2. KYC Verification
On completion of registration, the intending bidders / purchasers are required to upload KYC documents and Bank
account details. KYC documents shall be verified by e-auction service provider which may take 2 to 3 working days.
Hence the registration and uploading formalities are to be completed well in advance.
9. 3. EMD Payment
On completion of KYC verification, the intending bidders / purchasers are required to pay EMD through
NEFT/RTGS/NET BANKING/UPI by generating a Challan through this website in his/their Global EMD Wallet.
Payment should be made within 3 days after generating the Challan for NEFT / RTGS otherwise the Challan shall
become invalid. The payment shall be ensured well in advance before the stipulated time. If the required EMD
amount is not held in their Global Wallet, they will not be allowed to participate. Payment of EMD in any other
mode will not be accepted.
The Earnest Money Deposit shall not bear any interest and in case of unsuccessful bid, the same will be returned to
the unsuccessful bidder by the service provider without interest.
9.4 Bidding
The bidder has to select the property for which offer is submitted from the list mentioned in the above website and/
or bidder can directly enter Property ID (as mentioned in https://ibapi.in). The property will be visible in ‘Live
Auctions’ on www.mstcecommerce.com one day prior to the date of auction.
9.5. Help Desk
For Registration related queries e-mail to [email protected]
For EMD payment/refund related queries e-mail to
[email protected].
For Registration and Login and Bidding Rules visit
https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp and Click “Buyer Guide for Login and
Registration”
Intending bidders may download at free of cost, copies of sale notice, Terms and Conditions of e-auction
Help Manual on operational part of e-auction from e-Bkray – IBAPI portal (https://www.ibapi.in)
For auction related queries e-mail to
[email protected] or contact Union bank of India,
Himayath Nagar Branch.
9.6 Steps Involved
Register on e-auction portal www.mstcecommerce.com. using mobile number and email ID.
Upload requisite KYC Documents.
Generate challan and transfer EMD amount to bidder’s global EMD Wallet.
Submission of bid shall be through Online mode on the auction date and time.
In case of successful Bid, the balance bid amount to be paid as per the terms as mentioned hereunder.
In case of unsuccessful Bid, request for refund to be made in the MSTC website and refund will be made
directly by the MSTC.
Bidders are advised to go through the website https://www.ibapi.in, and www.unionbankofindia.co.in tenders for
detailed terms and conditions of Auction Sale before submitting their bids and taking part in the E-Auction sale
proceedings.
Successful bidder will be intimated through e-mail after the closing of the e-Bidding Process.
10. The intending bidders may, if they choose, after taking prior appointment from the Authorised Officer, inspect
the immovable/movable secured assets to be sold before the date of E-Auction.
It shall be the sole responsibility of the bidders to inspect and satisfy themselves about the secured assets and
specification before submitting the bid. On participation by any person or corporate it shall be deemed that the
bidders have fully satisfied themselves as to the property /assets and claims/ dues affecting the property under Sale
in all respects.
11. In case of bidding the bid increment shall not be less than Rs.56,000 in excess of highest bid amount or the
immediate preceding bid, as the case may be with multiple increment value of Rs.56,000.
12. The sale will be confirmed in favor of the highest bidder and the confirmation of sale shall be subject to the
confirmation by the Secured Creditor.
13.Bids once made shall not be cancelled or withdrawn. The failure on the part of bidder to comply with any of the
terms and conditions of e-auction, mentioned herein will result in forfeiture of the amount paid by the bidder.
14. The successful bidder so declared by the Authorised Officer shall deposit 25% of the Sale Price (inclusive of
EMD) in Cash/DD/RTGS/NEFT/Internet transfer /Cheque subject to realisation, immediately on the sale day or not
later than next working day with the Bank in the account bearing Number 020111980050000 , Union Bank of India
Himayath Nagar Branch, IFSC Code UBIN0802018 and the balance 75% of the Sale Price on or before 15th day of
confirmation of Sale or within such extended period as agreed upon in writing between the secured creditor and the
purchaser, in any case not exceeding 3 months.
In the event of failure to tender 25% (15%+EMD) of the sale price as per the terms of Sale by the successful bidder,
the EMD so deposited by him shall be forfeited to secured creditor and the bid accepted shall stand cancelled
automatically and the defaulting bidder shall neither have claim on the property nor on any part of the sum for which
it may be subsequently sold.
In default of payment of balance amount of purchase price before 15 days from the date of confirmation of sale by
the Secured Creditor or such extended period as may be mutually agreed upon between the secured creditor and the
purchaser (not exceeding 3 months) the amount already deposited by the auction purchaser shall be forfeited and the
property shall forthwith be sold again and the defaulting purchaser shall neither have claim on the property nor on
any part of the sum for which it may be subsequently sold.
15. The Authorised Officer may, where the property sold is subject to any encumbrances, if he thinks fit, allow the
purchaser to deposit with him the money required to discharge the encumbrances and any interest due thereon
together with such additional amount that may be sufficient to meet the contingencies or further costs, expenses and
interest as may be determined by him.
On such deposit of money for discharge of encumbrances, the Authorised Officer may issue or cause the purchaser
to issue the notices to the persons interested in or entitled to the money deposited with him and take steps to make
the payment accordingly.
16. On confirmation of sale by the secured creditor and if the terms of payment have been complied with by the
successful bidder, the Authorised Officer shall issue a certificate of sale of immovable property in favour of the
purchaser in Appendix-V to the Security Interest (Enforcement) Rules, 2002
17.Legal charges for conveyance, stamp duty, registration charges and other incidental charges as applicable shall
be borne by the successful bidder only.
18.As per Section 194-IA of the Income Tax Act 1961, TDS @ 1% will be applicable on the sale proceeds where
the sale consideration is Rs.50,00,000/- (Rupees fifty lakhs) and above. The successful bidder/purchaser shall deduct
the TDS from the sale price and deposit the same with the Income Tax Department in Form No. 16-B, containing
the Bank’s name and the PANnumber as a seller and submit the original receipt of the TDS Certificate to the Bank.
(Applicable for immovable property, other than Agricultural land)
19. The Authorised Officer will deliver the property on the basis of symbolic/physical possession taken on as is
where is basisto the purchaser free from encumbrances, known to the Secured Creditor on deposit of money by the
purchaser towards the discharge of such encumbrances.
20. The certificate of sale will be issued specifically mentioning whether the purchaser has purchased the
immovable/movable secured assets free from any encumbrances known to the secured creditor or not. No request
for change of name in the sale certificate other than the person who submitted the bid/participated in the auction
shall be entertained.
21. The unsuccessful Bidders who have deposited EMD shall be entitled to have the same refunded without any
interest immediately after the confirmation of sale by the Authorised Officer in favour of successful bidder. The
unsuccessful bidder is required to place request for refund with
https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp.
The EMD of unsuccessful bidders will be refunded on request to their respective A/c No. as registered in e-Auction
Portal www.mstcecommerce.com. The bidders will not be entitled to claim any interest, costs, expenses and any
other charges (if any).
22. If the Borrower were to pay to the Authorised Officer the entire amount due, with the up-to-date expenses
including the expenses / charges / cost in taking possession and conducting the sale, to the secured creditor before e-
Auction, the sale by E auction may be cancelled by the Authorised Officer.
23. Bank, the Secured Creditor, reserves the right to accept / reject the highest bid without assigning any reason
thereof or to cancel the sale.
24.In case any dispute arises as to the validity of the bid(s), amount of bid, EMD or as to the eligibility of the bidder,
authority of the person representing the bidder, the interpretation and decision of the Bank shall be final. In such an
eventuality, the Bank shall in its sole discretion be entitled to call off the sale and put the property to sale once again
on any date and at such time as may be decided by the Bank
25. The bank/service provider for e-auction shall not have any liability towards bidders for any interruption or delay
or technical snag in access to the site irrespective of the causes.
26. The above movable/immovable secured assets will be sold in “As is where is”, “As is What is” and “whatever
there is” condition.
27. The Sale shall be subject to the outcome of SA pending, if any.
28. The entire sale consideration shall be exclusively available for appropriation towards dues to the Bank and it is
exclusive of encumbrances of all statutory dues and other dues if any, shall be settled by the proposed purchaser out
of his own sources.
29.To the best of information and knowledge of the Authorised Officer, there is no encumbrance on the property.
However the intending bidders should make their own independent enquiry regarding the encumbrances, title of the
property put to auction and the claims / rights/ dues affecting the property, prior to submitting their bid. The E
Auction advertisement does not constitute and will not be deemed to constitute any commitment or any
representation of the Bank to sell the property.The Authorised Officer/ Secured Creditor shall not be responsible in
any way for any third party claims/rights/dues.
Place: Himayath Nagar Branch
Date: 07-10-2023 AUTHORISED OFFICER
FOR UNION BANK OF INDIA
